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Wednesday, October 25, 2006

Survey: European Business Give Training Priority over Adapting Rewards to Older Workforce

According to a survey conducted by Mercer Human Resource Consulting, 16% of European employers surveyed are planning to increase their investment in base salary rises in 2007, while 58% say they will spend more money on training and career development initiatives for their staff. Furthermore, just 11% of companies felt that adapting their employee rewards packages to meet the needs of an ageing workforce was an important challenge.

Mr [Peter] O'Malley [Principal at Mercer] commented: "It is surprising that companies are not more concerned about adapting their rewards programmes to suit older workers. Many organisations rely heavily on the skills that their older, more experienced staff bring to the workplace, yet the rewards packages they offer do little to engage these employees."